In May 2019, Texas reported a civilian labor force of 14,012,711. The number of employed people was 13,516,387. What was the unemployment rate?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the labor force and then multiplying by 100. In this case, the number of unemployed individuals is the difference between the labor force and the number of employed individuals, which is 14,012,711 - 13,516,387 = 496,324. Therefore, the unemployment rate is (496,324 / 14,012,711) * 100 = 3.5%.

In May 2019, Texas Reported a Civilian Labor Force of 14,012,711